XRP Deep In Red As Battle With ETH For No.2 Spot Continues

XRP Deep In Red As Battle With ETH For No.2 Spot Continues

For the last couple of months, there has been a number of changes in the top tier of the crypto market and almost every day has seen changes in ranking. Of all the changes and battles in the top ten, none has been as raging as the one between Ripple’s XRP and Ethereum ETH for the number two spot. Although up until last year Ethereum had dominantly held the position, last year saw a price shake-up, Ethereum losing so much that it was overtaken by XRP.

After holding this position right till the end of last year, at the start of this year, there was yet another shake-up that saw Ethereum re-take its position as the second largest cryptocurrency by market cap. But its win has short lived.

In the last two days, there has been a massive sell-off that has seen many coins drop to new year lows, and Ethereum has been one of the worst hit coins. After losing more than 15% of its value, XRP which was having relatively better stability overtook it in ranking.

XRP despite its success in ranking, has been hit hard in the last 24 hours, dropping by over 3%. At the time of press, XRP is trading for $0.33, a drop from $0.36 at the start of the year. This latest drop in the market has been a sign that the crypto winter had not come to an end and despite popular belief, most coins might not have yet bottomed.

As for the battle between XRP and ETH, it is far from over. At the time of press, XRP is ahead of ETH by around $300 million, a subtle difference between the two giants. For both of these coins, every single move is being watched closely all directly affecting their position in the market.

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